Polypropylene Market - Global Industry Analysis, Size 2024 | Research Report

Polypropylene is a thermoplastic polymer that can be readily formed by catalytic polymerization of propylene. Manufacture of polypropylene is largely dependent on the availability of raw materials. This, in turn, is dependent on crude oil and natural gas reserves. Properties of polypropylene such as high surface hardness, good tensile strength, and strong chemical resistance have played a vital role in gradually replacing other polyolefins in several applications. Polypropylene is one of the most versatile polymers used in packaging, automobile, construction, electrical & electronics, and medical industries.

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The packaging industry has been the largest consumer of polypropylene. Beneficial properties such as high impact resistance, flexibility, good optical property, low sealing threshold, and availability at competitive prices have helped polypropylene replace metals, cellophane, and paper in the packaging industry. Polypropylene can be blow-molded to manufacture bottles that are used in packaging a wide range of products such as detergents, toiletries, and condiments. Furthermore, polypropylene has high transparency and gloss, good heat resistance, is lightweight, and sensitive to organoleptic properties. Hence, it is widely used in storing grains, fruits, vegetables, meat, dairy products, etc. The automobile industry is the second-largest consumer of polypropylene.

Polypropylene offers outstanding moldability and mechanical properties and is cheaper than most other plastic materials used in automobiles. When used effectively in automobiles, polypropylene lowers the overall weight of the vehicle. This, in turn, enhances fuel efficiency and reduces overall cost. Consumer products segment is projected to be the third-most attractive segment of the polypropylene market between 2015 and 2023. Polypropylene is used in both appearance and structural applications in appliances such as dishwashers, refrigerators, washing machines, irons, toasters, and vacuum cleaners. Polypropylene is used as a replacement for traditional and more expensive thermoplastic materials. This trend has been increasing steadily since the last few decades. Furthermore, applications of polypropylene have been rising at a significant rate in other end-user industries such as electrical & electronics and construction.

Demand for polypropylene is high in Asia Pacific, especially in food packaging, due to increasing population and changing lifestyle in the region. Consumers are opting for easy-to-cook or ready-to-eat food. Additionally, rising number of nuclear families coupled with high disposable income has propelled the demand for consumer products packed in smaller quantities. This is expected to boost the polypropylene market in the next few years. China is estimated to be the dominant manufacturer as well as consumer of polypropylene due to easy availability of raw materials, cheap labor, and significant growth in packaging and automobile industries. Companies such as LyondellBasell Industries N.V., Sinopec, Braskem, and INEOS dominated the polypropylene market due to large production capacities and ready availability of raw materials.

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The global polypropylene market is fragmented. Manufacturers focus on innovating their products in order to achieve competitive advantage and sustain in the market. Leading players in the market include BASF SE, Total S.A., Borealis AG, LyondellBasell Industries N.V, Braskem, SABIC, Reliance Industries Limited, Sasol, and INEOS Group Holdings. In December 2014, Total S.A. launched non-phthalate catalyzed polypropylene product range, which includes random copolymers, homopolymers, and impact copolymers. The company markets non-phthalate catalyzed polypropylene for usage in the production of trays, boxes, pails, caps, bottles, etc.

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